Not a good idea. Consumption would fall with the resulting rising prices from a vast sales tax and the economy would stagnate. Why penalize the consumer!? Goods are made to be consumed! The 400 wealthiest make 90% of their income not on labour income (actual work done) but on capital income (money recieved by virtue of ownership, which by definition is not earned). For all the talk of progressive taxation penalizing initiative it would seem that in reality a flatter tax penalizes people for working!
